Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.
Recent Sales of Unregistered Securities
On January 3, 2022, we granted a new employee an option to purchase 131,400 shares of our common stock and a restricted stock unit award with respect to 65,700 shares of our common stock as an inducement to employment in accordance with Nasdaq Listing Rule 5635(c)(4). The stock option and restricted stock unit award are scheduled to become exercisable as to one-fourth of the shares underlying the award on each anniversary of the new employee’s start date, subject to the recipient’s continued service. The option has an exercise price of $1.78 per share.
No underwriters were involved in the foregoing issuance of securities. The securities were issued pursuant to Section 4(a)(2) under the Securities Act of 1933, as amended, relating to transactions by an issuer not involving any public offering. The recipient either received adequate information about us or had access, through other relationships, to such information.
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